This is a subject we talk about constantly here at Chief Executive, because it is important for CEOs to understand that, for this generation, just giving them a job isn’t enough. You’ve got to give them an environment, a connection, and so much more. Now, as these numbers prove, when it comes to your HR strategy, there is no turning back.
More than one-in-three American workers today are Millennials (adults ages 18 to 34 in 2015), and this year they surpassed Generation X to become the largest share of the American workforce, according to new Pew Research Center analysis of U.S. Census Bureau data.
This milestone occurred in the first quarter of 2015, as the 53.5 million-strong Millennial workforce has risen rapidly. The Millennial labor force had last year surpassed that of the Baby Boom, which has declined as Boomers retire.
Our new analysis of labor force estimates is based on the monthly Current Population Survey, which serves as the basis for the official unemployment rate and labor force counts announced by the federal government each month.
With its disproportionately large share of immigrants, and at an age of transition from college to the working world, the Millennial generation’s workforce is highly likely to grow even further in the near future.